Bitcoin mining has recovered
Bitcoin mining has totally recovered from the Chinese crypto crackdown that took more than half the world’s miners offline virtually overnight earlier this year. The recovery is measured by looking at hash rate, an industry term used to describe the computing power of all miners in the bitcoin network. As of Friday, data from Blockchain.com shows that the network has completely pared back those loses, up about 113% in five months.
Bitcoin´s performance over 5 years. (Source: Investing.com)
Musk sells another Tesla stocks
Elon Musk is continuing to offload Tesla stock. The tech billionaire sold 934,091 Tesla shares, according to financial filings with the Securities and Exchange Commission published late Thursday. The shares are worth $963.2 million. Musk, who is the world’s richest man, also exercised stock options to purchase 2.17 million shares of Tesla, according to the filings.
S&P 500 notches best week since February
Stock futures rose early Monday after the S&P 500 notched its best week since February at a fresh record close, rebounding from a big sell-off triggered by fears of the omicron coronavirus variant. Stocks bounced back last week as investors bet that the initial worry about the Covid strain is overblown.
Apple Could Be the First $3 Trillion Company
Apple shares have been on a ferocious tear, up 34% year to date*, leaving it less than 5% away from a $3 trillion market capitalization, a milestone never hit by any other public company. Mark Zuckerberg may be talking the most about the metaverse, but Tim Cook’s company might just be the big winner here.
Apple´s performance over 5 years. (Source: Investing.com)
Watch this week:
- On Thursday, the euro area central banks vote on where to set the rate.
- On Friday, will be published Germany Ifo Business Climate Index for the next six months
* Past performance is no guarantee of future results